|
|
Enron Mail |
Gentlemen, We wanted to make you aware of some discussions that are going on concerning the possibility of ETS clearing trades in lumber futures on behalf of Enron Industrial Markets. Presently, ETS is not a member of the Chicago Mercantile Exchange, and has an omnibus account with ABN Amro through which our orders are placed. Presently, EIM places its orders through one or more brokers who give up the trades at the end of the day to one or two institutions who will clear those trades for EIM. The chief benefit which is sought out in EIM clearing lumber futures through ETS is the consolidation of their trade clearance business through ETS, and the elimination of the use of third parties that presently clear those trades. As an operational matter, ETS is equipped to handle the business, as it already has the infrastructure to do so. The discussions are in a fairly preliminary stage, and have been principally among the business people. We would welcome your input on this matter. Regards, Limor Nissan & Al Pennisi Enron Trading Services Inc. 520 Madison Avenue New York, NY 10022 Tel: 212-715-5283 Fax: 212-715-5608 Email: Limor.Nissan@Enron.com
|